Chainlink (LINK) is currently priced at $11.83, reflecting a 24-hour change of -1.74%. The daily trading range has been relatively narrow, with a high of $12.07 and a low of $11.71, indicating low volatility in the current market environment.

The trading volume stands at approximately $348.95 million, with a volume-to-market cap ratio of 4.17%, suggesting moderate interest among traders. The hourly moving averages show a bearish trend, with the 8 SMA at $11.89 down 0.47% and the 144 SMA at $12.03 down 1.66%, reinforcing a lack of upward momentum.

From a momentum perspective, the 1-hour RSI is at 40, indicating a potential oversold condition but still below the neutral mark. The 7-day RSI is at 47, showing that LINK is nearing a critical support level but has not yet demonstrated a bullish reversal.

In terms of recent performance, LINK has experienced a significant decline, with a 7-day price change of -5.97% and a 14-day price change of -16.88%. The 30-day price change is also negative at -3.82%, indicating sustained bearish pressure over a month.

Given the current technical indicators and the overall trend, Chainlink is facing resistance above the $12 mark while struggling to maintain higher price levels. The failure to hold above key moving averages combined with bearish momentum suggests that LINK may continue to face downward pressure in the short term.

Considering the current price action, momentum indicators, and recent price performance, the rating for Chainlink (LINK) is a Sell. The ongoing bearish trend and lack of bullish signals indicate a high likelihood of further declines in the near term, necessitating caution for potential investors.